UBA Releases Health Care Cost Control Tool

April 15, 2005 (PLANSPONSOR.com) - United Benefit Advisors (UBA) has announced a collaborative effort to provide a suite of analytical and client support tools designed to aid employers in controlling health insurance costs.

According to a press release from the group of 125 benefit advisory firms,  UBA  member firms can now provide actuarial-based advice to mid-sized employers in partnership with actuarial firm Reden & Anders. The resource, available from UBA members, attempts to answers health care questions, such as:

  • Are the employer’s current or renewal premiums appropriate?
  • Are the   premiums for each of the employer’s multiple plan offerings set   correctly to minimize risk and drive participation to low-cost options?
  • Are the self-funded plan’s expected claims and specific stop-loss   levels set appropriately?
  • What level of IBNR claim reserves are needed   to comply with DOL and IRS requirements?
  • What should the high   deductible level and HRA contribution amount be for a Consumer Driven Plan Option?
  • How can the employer more accurately determine plan   design savings opportunities?

All the tools are linked to an actuarially-credible health plan database, and answers are customized to company size, location and industry.